Group 1: Precious Metals Market Overview - The precious metals market experienced a significant decline, with gold prices dropping by 2.69% to $4058.79 per ounce, and COMEX gold falling by 3.24% to $4058.6 per ounce [2] - Silver prices also saw a notable decrease, with spot silver down 3.35% to $50.536 per ounce, and COMEX silver down 5.28% to $50.365 per ounce [2] - Other precious metals such as platinum and palladium also faced declines, with NYMEX platinum dropping over 4% and spot palladium falling more than 3% [2] Group 2: Global Gold Demand Trends - According to the World Gold Council's Q3 2025 Global Gold Demand Trends Report, global gold demand reached a record high of 1313 tons in Q3, with a total value of $146 billion [3] - Factors driving gold demand include geopolitical tensions, persistent inflation, and uncertainties in global trade policies, which have increased investor interest in gold as a safe-haven asset [3] - The report indicates that gold prices have the potential for further increases, supported by a weakening dollar, expectations of interest rate cuts, and the risk of stagflation [3] Group 3: Market Sentiment and Future Outlook - CITIC Securities suggests that the ongoing inflow into ETFs will provide significant support for precious metal prices in a liquidity-friendly environment [4] - The long-term bullish outlook for precious metals remains unchanged, with expectations for gold and silver prices to rebound after a phase of adjustment [4] - The global market is currently experiencing a broad adjustment, with major stock indices in Asia-Pacific and the U.S. showing declines of over 1% [4]

Core Insights - Platinum prices have surged significantly, with a peak of $1221.48 per ounce, marking a 34.37% increase year-to-date, surpassing gold's gains [1][3] - The recent price increase is attributed to technical corrections and a shift in investor sentiment towards platinum, which is seen as having higher investment potential [3][5] Price Movements - As of June 9, spot platinum was priced at $1214.72, reflecting a 4.19% increase [2] - From May 15 to June 9, platinum's cumulative increase was 23.89% [2] Supply and Demand Dynamics - The World Platinum Investment Council (WPIC) forecasts a 10% year-on-year increase in global platinum demand for Q1 2025, driven by strong investment demand [3] - Investment demand for platinum rose by 28% quarter-on-quarter to 14 tons in Q1 2025, with a notable 140% increase in demand for platinum bars under 500 grams in China [3] Market Outlook - WPIC predicts a 4% decline in total platinum supply for 2025, reaching a five-year low of 218 tons, while total demand is expected to decrease by 4% to 248 tons [4] - The market is approaching a critical point, with a projected shortfall of 30 tons in 2025, marking the third consecutive year of shortages [4] Investment Sentiment - Analysts suggest that platinum's future price increases will depend on fundamental support and the ability to digest current inventory levels [4] - The introduction of more investment tools, such as ETFs and futures, is expected to enhance market liquidity and support platinum prices [5]